Technology-focused private equity firm Accel-KKR has closed a $325 million fund.

The fund, Accel-KKR Structured Capital Partners II, will make minority equity investments in technology companies through senior equity and other structured securities. Accel-KKR raised its first structured capital fund with $180 million in commitments in 2011. In May, the firm sold N-Able Technologies, which was an investment from the first structured capital fund, to SolarWinds (NYSE: SWI) for $127 million.

"The idea behind our structured capital funds developed over the years as we saw so many good businesses with great management teams where minority stakes -- as opposed to majority investments -- made sense," says Tom Barnds, managing director of Accel-KKR.

The firm's partners and employees are committing 7 percent of the new fund's capital. Accel-KKR Structured Capital Partners II surpassed its $250 million target.

Aside from the new fund, Accel-KKR is currently investing out of its fourth buyout fund, Accel-KKR Capital Partners IV, an $800 million fund raised in 2012.

Headquartered in Menlo Park, Calif., Accel-KKR has more than $2.5 billion in capital under management. The firm was started in 2000 by private equity firms Accel Partners and Kohlberg Kravis Roberts & Co. LP (NYSE: KKR).

In January, the firm sold Kana Software for $514 million to Verint Systems Inc. (Nasdaq: VRNT). In October, Accel-KKR invested in On Center Software, a construction automation software developer. 

 

Financial services industry